{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}C:\Users\myogo\Princeton Dropbox\Motohiro Yogo\Koijen Yogo - International\JPE\Replication\Code\5 Decomposition\Decomposition0_2.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res}31 Oct 2025, 10:30:13
{txt}
{com}. /* Define local and global variables */
> 
> do global;
{txt}
{com}. /* global.do (STATA)
>         Define global variables in "Decomposition".
>         by Ralph Koijen & Motohiro Yogo */
. 
. #delimit ;
{txt}delimiter now ;
{com}. clear all;
{res}{txt}
{com}. do "../3 Estimation/global";
{txt}
{com}. /* global.do (STATA)
>         Define global variables in "Estimation".
>         by Ralph Koijen & Motohiro Yogo */
. 
. #delimit ;
{txt}delimiter now ;
{com}. clear all;
{res}{txt}
{com}. global macro = "LgdpP LgdpPpc Gcpi vol drate";
{txt}
{com}. global bilateral = "dist";
{txt}
{com}. global dummies = "Iown I_CR I_OC Iyear_*";
{txt}
{com}. global dummiesA = "Itype_*";
{txt}
{com}. global iv = "IVexdemand";
{txt}
{com}. global ivA = "LSdelta*";
{txt}
{com}. 
{txt}end of do-file

{com}. global step_W = 1;
{txt}
{com}. global step_fx = .5;
{txt}
{com}. global step_mb = .5;
{txt}
{com}. global Nstep = 1e4;
{txt}
{com}. global Mgap = 1e-9;
{txt}
{com}. 
{txt}end of do-file

{com}. /* Call the ado file */
> 
> forval y = 2006/2008 {c -(};
{txt}  2{com}.         Decomposition 0 `y';
{txt}  3{com}. {c )-};
2006
0     1     8.704e-14     8.704e-14     7.994e-15
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:36.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:36.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:36.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
1     1854     3.576e-10     9.570e-10     3.906e-09
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:36.00}   {space 1}{result:-0.01}   {space 15}{result:0.01}   {space 8}{result:-0.04}   {space 9}{result:0.11}
  Long-term debt{space 1} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.01}   {space 15}{result:0.02}   {space 8}{result:-0.11}   {space 9}{result:0.01}
  Equity{space 9} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.06}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
2     1830     4.048e-10     9.957e-10     2.443e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:36.00}   {space 1}{result:-0.01}   {space 15}{result:0.02}   {space 8}{result:-0.07}   {space 9}{result:0.11}
  Long-term debt{space 1} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.01}   {space 15}{result:0.02}   {space 8}{result:-0.09}   {space 9}{result:0.01}
  Equity{space 9} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.06}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
3     1695     4.054e-10     9.993e-10     2.468e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:36.00}   {space 1}{result:-0.01}   {space 15}{result:0.02}   {space 8}{result:-0.07}   {space 9}{result:0.11}
  Long-term debt{space 1} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.01}   {space 15}{result:0.02}   {space 8}{result:-0.10}   {space 9}{result:0.01}
  Equity{space 9} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.06}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
4     1305     3.583e-10     9.810e-10     2.150e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:36.00}   {space 1}{result:-0.01}   {space 15}{result:0.02}   {space 8}{result:-0.08}   {space 9}{result:0.11}
  Long-term debt{space 1} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.01}   {space 15}{result:0.03}   {space 8}{result:-0.10}   {space 9}{result:0.01}
  Equity{space 9} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.06}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
5     2473     5.854e-10     9.617e-10     1.282e-11
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.06}   {space 9}{result:0.10}
  Long-term debt{space 1} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.03}   {space 8}{result:-0.15}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.05}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
6     1428     4.114e-10     9.988e-10     2.374e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.06}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.16}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.05}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
7     1580     3.938e-10     9.975e-10     2.272e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.05}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.08}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.06}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
8     1380     3.919e-10     9.910e-10     2.257e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 8}{result:-0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 8}{result:-0.00}
  Equity{space 9} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
2007
0     1     5.951e-14     6.040e-14     6.217e-15
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:36.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:36.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
1     1708     3.756e-10     9.956e-10     2.270e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.05}   {space 9}{result:0.01}
  Long-term debt{space 1} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.01}   {space 15}{result:0.01}   {space 8}{result:-0.05}   {space 9}{result:0.01}
  Equity{space 9} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.04}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
2     1757     3.774e-10     9.938e-10     2.264e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:36.00}   {space 1}{result:-0.01}   {space 15}{result:0.02}   {space 8}{result:-0.06}   {space 9}{result:0.01}
  Long-term debt{space 1} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.01}   {space 15}{result:0.01}   {space 8}{result:-0.05}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.04}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
3     1421     3.797e-10     9.955e-10     2.277e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.02}   {space 8}{result:-0.06}   {space 9}{result:0.01}
  Long-term debt{space 1} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.01}   {space 15}{result:0.01}   {space 8}{result:-0.05}   {space 9}{result:0.01}
  Equity{space 9} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.04}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
4     1911     3.837e-10     9.957e-10     2.551e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:36.00}   {space 1}{result:-0.01}   {space 15}{result:0.03}   {space 8}{result:-0.08}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.02}   {space 15}{result:0.03}   {space 8}{result:-0.07}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.03}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
5     1847     3.929e-10     9.985e-10     2.511e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.08}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.03}   {space 8}{result:-0.10}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.03}   {space 9}{result:0.01}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
6     1573     3.951e-10     9.939e-10     2.505e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:36.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.07}   {space 9}{result:0.01}
  Long-term debt{space 1} {c |}  {space 22}{result:36.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.10}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:36.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.01}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
7     1632     4.183e-10     9.951e-10     2.596e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:37.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.02}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:37.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.07}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:37.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.02}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
8     1488     4.175e-10     9.948e-10     2.600e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:37.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 9}{result:0.00}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:37.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 9}{result:0.00}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:37.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
2008
0     1     5.151e-14     5.107e-14     8.882e-16
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:37.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:37.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:37.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
1     1849     4.482e-10     9.942e-10     2.648e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:37.00}   {space 1}{result:-0.01}   {space 15}{result:0.05}   {space 8}{result:-0.11}   {space 9}{result:0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:37.00}   {space 1}{result:-0.01}   {space 15}{result:0.02}   {space 8}{result:-0.08}   {space 9}{result:0.02}
  Equity{space 9} {c |}  {space 22}{result:37.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.07}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
2     1840     4.291e-10     9.964e-10     2.545e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:37.00}   {space 1}{result:-0.00}   {space 15}{result:0.02}   {space 8}{result:-0.11}   {space 9}{result:0.03}
  Long-term debt{space 1} {c |}  {space 22}{result:37.00}   {space 1}{result:-0.02}   {space 15}{result:0.03}   {space 8}{result:-0.10}   {space 8}{result:-0.00}
  Equity{space 9} {c |}  {space 22}{result:37.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.04}   {space 9}{result:0.02}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
3     1699     4.277e-10     9.939e-10     2.541e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:37.00}   {space 1}{result:-0.00}   {space 15}{result:0.02}   {space 8}{result:-0.10}   {space 9}{result:0.03}
  Long-term debt{space 1} {c |}  {space 22}{result:37.00}   {space 1}{result:-0.02}   {space 15}{result:0.03}   {space 8}{result:-0.09}   {space 9}{result:0.00}
  Equity{space 9} {c |}  {space 22}{result:37.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.04}   {space 9}{result:0.03}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
4     1593     4.311e-10     9.902e-10     1.779e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:37.00}   {space 2}{result:0.01}   {space 15}{result:0.04}   {space 8}{result:-0.03}   {space 9}{result:0.24}
  Long-term debt{space 1} {c |}  {space 22}{result:37.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.03}   {space 9}{result:0.06}
  Equity{space 9} {c |}  {space 22}{result:37.00}   {space 2}{result:0.00}   {space 15}{result:0.00}   {space 8}{result:-0.05}   {space 9}{result:0.03}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
5     1530     4.486e-10     9.930e-10     1.754e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:37.00}   {space 1}{result:-0.00}   {space 15}{result:0.03}   {space 8}{result:-0.02}   {space 9}{result:0.37}
  Long-term debt{space 1} {c |}  {space 22}{result:37.00}   {space 2}{result:0.00}   {space 15}{result:0.01}   {space 8}{result:-0.02}   {space 9}{result:0.13}
  Equity{space 9} {c |}  {space 22}{result:37.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.06}   {space 9}{result:0.03}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
6     1503     2.681e-10     9.972e-10     1.187e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:37.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.01}   {space 9}{result:0.45}
  Long-term debt{space 1} {c |}  {space 22}{result:37.00}   {space 1}{result:-0.00}   {space 15}{result:0.01}   {space 8}{result:-0.01}   {space 9}{result:0.12}
  Equity{space 9} {c |}  {space 22}{result:37.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.07}   {space 9}{result:0.03}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
7     1442     3.925e-10     9.944e-10     1.788e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:37.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.02}   {space 9}{result:0.13}
  Long-term debt{space 1} {c |}  {space 22}{result:37.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.01}   {space 9}{result:0.11}
  Equity{space 9} {c |}  {space 22}{result:37.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.04}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
8     1241     3.930e-10     9.957e-10     1.794e-08
{res}
{smcl}
{reset}{...}
{hline 17}{c -}{c TT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
{space 17} {c |}  Number of nonmissing values   Median   Interquartile range   Minimum value   Maximum value
{hline 17}{c -}{c +}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}
Asset type{space 7} {c |}  {space 27}   {space 6}   {space 19}   {space 13}   {space 13}
  Short-term debt {c |}  {space 22}{result:37.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 8}{result:-0.00}
  Long-term debt{space 1} {c |}  {space 22}{result:37.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 8}{result:-0.00}
  Equity{space 9} {c |}  {space 22}{result:37.00}   {space 1}{result:-0.00}   {space 15}{result:0.00}   {space 8}{result:-0.00}   {space 9}{result:0.00}
{hline 17}{c -}{c BT}{c -}{c -}{hline 27}{c -}{c -}{c -}{hline 6}{c -}{c -}{c -}{hline 19}{c -}{c -}{c -}{hline 13}{c -}{c -}{c -}{hline 13}

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